Institutional investors disclosed nearly $75 million in exposure to Hyperliquid through exchange-traded funds as of June 30, highlighting the growing participation of traditional financial firms in products tied to the HYPE token.

According to figures compiled by Bloomberg ETF analyst James Seyffart and highlighted by Coin Bureau, 30 institutions reported holdings across three Hyperliquid ETFs, representing exposure equivalent to roughly 1.15 million HYPE tokens. The disclosed positions carried a combined value of about $74.9 million.

Because the figures are drawn from regulatory filings, they reflect positions as reported on June 30 rather than current holdings. Such filings also offer limited insight into an investor's broader strategy, including whether a position is hedged or offset elsewhere.

Hyperliquid is a decentralized exchange best known for its perpetual futures trading platform, and HYPE is the token that underpins its ecosystem. The arrival of ETFs tracking the token extends a broader trend in which regulated crypto investment products, first established for bitcoin and ether, have expanded to cover a wider range of digital assets — a shift that lets institutions gain exposure through familiar wrappers rather than direct custody.

UBS, Bank of Montreal and Jane Street Among Major Holders

Wealth High Governance Asset Management reported the largest position, valued at $23,948,236. OLP Capital followed with $10,495,651, while UBS held $7,525,757. Bank of Montreal reported $6,693,261 in exposure, followed by Jane Street with $4,381,110. Together, the five largest disclosed positions accounted for a substantial share of the institutional exposure identified in the filings.

The filings indicate that exposure to HYPE is no longer confined to crypto-focused investors. UBS and Jane Street are established participants in global financial markets, and Bank of Montreal is one of Canada's largest banking institutions.

Hyperliquid ETF Market Expands Institutional Access

The disclosures come as regulated investment products tracking HYPE have become more established in U.S. markets. Bitwise's Hyperliquid ETF reported holding 1,959,065 HYPE as of June 30, a position valued at $128.26 million under its principal-market valuation. Grayscale's Hyperliquid Staking ETF reported 1,941,395 HYPE worth $127.10 million on the same date.

The expanding availability of exchange-traded products gives institutional investors a regulated structure through which they can obtain HYPE exposure without necessarily holding the token directly. This could broaden the investor base for Hyperliquid while making institutional flows increasingly relevant to liquidity and market sentiment.

The open question is whether subsequent quarterly filings will show that the institutional positions identified by Seyffart have increased, declined, or remained broadly unchanged since June 30.